A&B Abstract: On November 16, 2022, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its Fall 2022 Supervisory Highlights (Issue 28) (the “Supervisory Highlights”), which, among other things, announces the creation of a Repeat Offender Unit and highlights supervisory observations from examinations conducted by the Bureau in the first half of 2022. Below we discuss some of the key takeaways from the Supervisory Highlights. The Supervisory Highlights CFPB’s New … [Continue reading] about CFPB Publishes Fall 2022 Supervisory Highlights
A&B ABstract: On November 21, 2022, the Federal Housing Administration ("FHA") announced a final rule to provide for the acceptance of private flood insurance in connection with FHA-insured loans. FHA to Permit Private Flood Insurance … [Continue reading] about FHA Issues Final Rule on Acceptance of Private Flood Insurance Policies
A&B Abstract: On November 14, 2022, the Consumer Financial Protection Bureau (“CFPB”) filed a petition for a writ of certiorari in connection with the Fifth Circuit’s recent decision in Community Financial, which held that the CFPB’s funding … [Continue reading] about CFPB Petitions High Court to Consider Decision Holding Funding Structure Unconstitutional
A&B ABstract: In another existential challenge to the CFPB, last week the Fifth Circuit held in the Community Financial case that the CFPB’s funding structure is unconstitutional. On this ground, it vacated the CFPB’s Payday Lending Rule. … [Continue reading] about The CFPB’s Funding Structure Held Unconstitutional: The Practical Implications
A&B Abstract: Furthering the Justice Department’s Combating Redlining Initiative, the Department of Justice has announced another redlining settlement. But this settlement is different – this one involves a bank that has received top marks by … [Continue reading] about Is the DOJ (De Facto) Enforcing the Community Reinvestment Act?